The Series 65 exam or the Uniform Investment Adviser Law (UIAL exam) examination is administered by the Financial Industry Regulatory Authority (FINRA). Passing this test will give an investment professional license to work as an Investment Advisor Representative in some states.
You can visit FINRA’s website regarding the exam dates and locations. But if you are not affiliated with any National Association of Securities Dealers (NASD) firm, you must complete a Form U10 to book a slot on a certain exam date. This form can be downloaded as a PDF file at FINRA’s website. File this form and pay the enrollment fee of $120.
The examination can be taken on all days except on Sundays at any Pearson or Prometric test centers. Individuals do not have to be employed or sponsored by a member firm in order to be eligible.
The Series 65 exam is composed of 130 multiple choice questions that must be finished within 180 minutes. You have to get at least 70% right answers in order to get your license as an Investment Advisor.
The following areas are covered in the Series 65 exam:
• Retirement planning
• Product education
• Securities rules and regulations
• Conduct and business ethics
It will also help to review these terms in order to pass the test:
• Prudent person rule
• Active investing
• Deflation
• Time value of money
• Liquidity
• 403b plan
• Employment Retirement Income Security Act (ERISA)
• Dollar Cost Averaging (DCA)
• Convertible bonds
• Risk tolerance
Recommended Series 65 Study Guides:-
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